Sedemac Mechatronics Ltd.'s initial public offering opened for subscription on Wednesday. The Rs 1,087.45-crore IPO is exclusively an offer for sale of 80.43 lakh shares and no fresh issue component. The subscription window will close on March 6.
The company has fixed the price band of Rs 1,287 to Rs 1,352 per share. The minimum bid size for retail investors is 11 shares (Rs 14,872).
Sedemac Mechatronics raised Rs 325.88 crore from anchor investors, including Goldman Sachs, Abu Dhabi Investment Authority, 3P Investment Managers, WhiteOak Capital and Pinebridge Global Funds.
The IPO allotment will be finalised on March 9 and shares will be credited to the demat account on March 10. Sedemac Mechatronics will list on the NSE and BSE on March 11.
Under the OFS, promoters Manish Sharma and Ashwini Amit Dixit, along with investors such as Mace Private Limited, A91 Emerging Fund II LLP, Xponentia Opportunities Fund II, 360 One Monopolistic Market Intermediaries Fund, and HDFC Life Insurance Co. will offload their stake.
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IPO Day One Subscription Status
The Sedemac Mechatronics IPO has been booked 1% as of noon.
- Qualified Institutional Buyers: Nil
- Non Institutional Investors: 1%
- Retail Individual Investors: 2%
- Employee Reserved: 33%
IPO GMP
The grey market premium (GMP) for the Sedemac Mechatronics IPO stood at Rs 17 lower than the upper limit of the issue price at 11:30 a.m. on March 4, according to InvestorGain. The latest GMP indicates an estimated listing price of Rs 1,335 per share, at a discount of 1.26% over the upper limit of the issue price of Rs 1,352.
Note: GMP does not represent official data and is based on speculation.
About the Company
Sedemac Mechatronics is a supplier of control-intensive, critical-to-the-application electronic control units, or ECUs, to leading original equipment manufacturers (OEMs) in the mobility and industrial markets in India, Europe and the United States. It is the first domestic company to develop, design and make sensorless commutation-based integrated starter generators ECUs for 3-wheelers and two-wheeler internal combustion engine-powered vehicles.
According to its offer documents, the company is also a market leader in India for genset controllers with an estimated market share of 75% to 77% during the nine months ended December 2025.
ICICI Securities Ltd., Axis Capital Ltd. and Avendus Capital Pvt. are the merchant bankers to the IPO.
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